jackryanjr's  Instablog

Send Message
From Start-Ups to Large Cap. If I don't like it, I don't invest - but never short. Vigilante against pumpers making money off the backs of retail investors who trust their money down the toilet.
My blog:
Jack Ryan's SA Blog
  • A Pre-Publishing Taste Of The GALE Articles Beginning Monday. 7 comments
    Apr 4, 2014 5:33 AM | about stocks: GALE

    I have one of my admin/interns cataloging everything for posts coming Monday.

    I have had the opportunity to read what many of you have shared with me. One prolific commentor seems to be confused by everything I say. I will attempt to clear the air, if in fact this is the case for multiple readers.

    It is often the case that I am able to multi-task many complex thoughts in a dozen directions at the same time. - When I quickly write these out, unless you really understand and are aware of the source material, I can seem to be ranting with discord and no goal. However, when I write for the purpose of being direct with a stated proof, I am quit capable of presenting cohesive, solid, and rational material. All I hope is that the reader be able to separate emotion from truth, not pick apart the minutia of details that might have a grammar or other non-essential error.

    It is my strong belief, and will continue as such, that Galena under the leadership of Steve Kriegsman, his sit-in CEO Mark Ahn, the companies several dozen employees, and their hand-picked (created) 700 employee CRO has little to no chance of bringing this compound to market. I also have a gut feeling science, the wording of the protocol, and the handling of the trial are on a path to failure for concomitant as well as fully different issues that will in short time begin to see the light.

    What I will show you is that GALE has a study in crisis. For years they stated 100 sites. In the last months they have added about 50, while substituting maybe as many as dozens more. This means they have no enrollment, no results, and no one at the Physician level of these sites willing to put their patients on the GALE protocol/neuvax.

    Most of what I will show is crisis and bad decisions. This includes a protocol with endpoints they are likely to fail for possibly only study design reasons, but fail nonetheless.

    I find it scary that a company is wooing investors, cross-promoting heavy stroking and press releases with the CRO (Contract Research Organization) running their blinded study, and by blinded, we must believe they are not sneaking peaks at data along the way. This is why you have a very "clinical" relationship with your CRO - to make sure there is no chance one might perceive a cozy relationship.

    In most cases, if anyone believed this was truly a breakthrough Immuno Vaccine, you would have no funding problems at Ph3, you would not have allowed (or helped form) a 700 person CRO to manage what they claim to be a multi-billion dollar opportunity. Confidence in compound would have seen this trial transition to a rescue trial with a top-line CRO at the helm.

    I will present multiple documents about this CRO, the inappropriate GALE/CRO relationship, and the simple fact the CRO states "they do not work outside Ph2, as they are aware they do not understand the space." They said this - not me - Their EVP, on multiple occasions. I actually feel bad with a heavy dose of disgust at all of the smoke screens surrounding a product so emotional to so many - including myself.

    GALE has also sued they co-developer of NeuVax to silence his dissent - as recently as Nov. 13. Again, the reason for the lawsuit comes down to money. They actually are suing for more than $100K - and they list about 10 things hurting them in one way - And I will actually throw in a few quote for you here - DIRECTLY from the lawsuit.


    Galena essentially states again and again that the co-inventor has challenged the way they are presenting HIS Ph1/2 results in marketing used for secondary offerings and also for pumping campaigns where retail investors are using the distorted and misleading wording to go for the retail investors money to fund their research. Secondarily, and almost comically, Galena states that he says they are committing securities fraud in making these statements. This lawsuit aside, which seeks only to quash Ioannides publishing, has come very close to writing their own story/outcome in an attack on another individual.

    Regarding Galena's need to obtain Retail Level Financing:
    COMPLAINT #11 (GALE's Typo's and odd phrasing):
    "Since it is still in a development stage, Galena is dependent on periodic financings to fund its drug development efforts. Galena's ability to financings upon favorable terms, in turn, is heavily dependent on the market price of its stock. In addition, Galena's goodwill is diminished by the Comments. The long-term damages caused by Ioannides' demonstrably false and libelous Comments is to be determined at trial and pursuant to expert testimony."

    Please note the irony of this next complaint from the second section of the lawsuit complaints:
    COMPLAINT #23:
    "Among other things, such Comments falsely indicated and conveyed to the reader that Galena and its officers and directors are committing securities fraud..."

    COMPLAINT #25:
    "More Galena complaints as to the harm they have been subjected, and thus, how they will not be able to raise funds through future offerings as no one will like them. As a result of the Ioannides' publication of the Comments, Galena has
    been injured in its profession, trade and/or business because potential strategic partners or other third parties and investors are less interested in collaborating with or otherwise investing in Galena."

    COMPLAINT #27:
    "Since Galena is a development - stage company, it is reliant upon the capital markets for the funding necessary to pursue its business plan, which includes seeking to commercialize its main product candidate, NeuVax,™ and Ioannides has severally damaged Galena in this respect."

    Read for yourself the entire federal lawsuit:



    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Additional disclosure: Feel terrible for the thousands of retail investors who have done their DD, yet have no control over the exhaustive methods GALE has taken to be misinterpreted, to mislead, and to practice what seems to be a campaign to lie and sue anyone who brings their odd behavior to light.

    Stocks: GALE
Back To jackryanjr's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (7)
Track new comments
  • Hoang6
    , contributor
    Comments (358) | Send Message
    I suggest a lot more research!
    4 Apr 2014, 09:40 AM Reply Like
  • jackryanjr
    , contributor
    Comments (153) | Send Message
    Author’s reply » there is.... I'm out of country doing crisis management with clients. I just posted a single item from a huge amount of research, as I promised I would start rolling out items to show an overall thesis related to management, bad decisions, and poor handling of any and all core fundamentals - & now RED FLAGS.


    This does not touch the surface, nor is meant too. It was a comment turned to a mini blog.
    4 Apr 2014, 09:57 AM Reply Like
  • lota33
    , contributor
    Comments (7) | Send Message
    Forgive me for being skeptical about your report here but it seems like every negative article about GALE seems to come from a short-seller. It’s becoming increasingly difficult to tell apart the unscrupulous manipulators from the actual people that really care.
    6 Apr 2014, 01:54 PM Reply Like
  • jackryanjr
    , contributor
    Comments (153) | Send Message
    Author’s reply » I am just recovering from multiple work trips to various EU, Russian, Eastern European and a plethora of American pharma/biotech/research endeavors. I am not a short seller. At the moment, my time is far more useful saving studies caught in a mixture of future and/or immediate jeopardy from politically stressed or otherwise non-performing venues. Much of the current landscape, and especially GALE's study, have their entire protocol at risk, huge problems enrolling, and seemingly a 1.5 decade loss of trust in their Eastern European Site Selections.


    CRO's like PSI, and the microscopic Aptiv engaged for GALE are heavily inundated in the regions. Aptiv claims to not participate in the Ph 3 market at all, and by viewing their clinicaltrials.gov revision history, anyone can see that they are floundering just by tracking the site evolution, failure, and 50% + volume of site turnover/droppings/fai... etc.


    PSI is an excellent company, and because of their home regions current and near future risks are feverishly focusing their efforts on US biotech at US sites, rather than praying things at home quickly fix themselves via miracle, or somehow research trials begin to become a second or third protocol for treatment, rather than the first, and/or only avenue.


    Everything I have ever stated is easily discovered with an afternoon at your computer. My research, which is now in plural, meaning our research, is all in a google share and findable via search.


    The stock price of GALE, regardless of any small gains today, is reflective of the multitude of growing knowledge available to the general public (and previously to funds and investors of greater wealth and scientific knowledge). Sadly, the losses will be carried on the backs of retail investors with emotional connections, lack of understanding the world of BioTech, and all those owning $6-8 shares "for the long."


    Whomever doubts my information above is being foolish, as it is copied and pasted from a Federal Lawsuit. The point, seemingly missed by some, is that Ahn and Galena have an agenda where they chose to use a Federal Court to silence the scientist who worked on the original compound and idea. He says the information presented is not in line with the science he was responsible for in the phase 1-2 study.


    The second element is that while Ahn is using over-reaching means to silence this person, his stated reason is simply that allowing free-speech & scientific facts will encumber his ability to raise money through secondary offerings. This lawsuit happens to coincide with his decision to hire a company to bring awareness to the public re: GALE, thus helping the stock price go through the roof, at which time they had a secondary offering and also sold their shares of GALE. Kriegsman actually sold his entire vested interest, and now holds ZERO ownership in the company. He is the Director of Compensation (layman's terms) for GALE. He also raised management wages, which are quite high for a faltering biotech.


    I'm not even trying to persuade you from ownership. You are entitled to your dreams. I am however only being a realist and offering insightful commentary on a group of men (plus one woman) running the 30-50 person Galena Co.


    I will hopefully have time before ASCO to offer another dozen topics to shed light before then - and if not, ask me there. Dumping research and published scientific articles here always fails to help people understand, as the few shout down anything informative as coming from a short seller... Thus I feel it important to outline the reasons and facts rather than share links. As I have stated, everything I write is publicly accessible. Were it not, I would not be able to publish anything surrounding biotech & pharma.
    22 Apr 2014, 06:00 PM Reply Like
  • alance86
    , contributor
    Comments (237) | Send Message
    Did I miss where you posted all of this information that you said was going to come out on April 7th, or are you still out of the country?
    22 Apr 2014, 12:43 PM Reply Like
  • jackryanjr
    , contributor
    Comments (153) | Send Message
    Author’s reply » Please see above.
    22 Apr 2014, 06:00 PM Reply Like
  • alance86
    , contributor
    Comments (237) | Send Message
    Thank you.
    22 Apr 2014, 08:51 PM Reply Like
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.